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AFKI Commodities Report: China, Eurozone Growth Worries Gold Lift

By Lynda Davies, 10:31am AFKI Original

Gold touched a six-week high on China growth worries before taking heavy losses. Oil prices rebounded on reports of lower Saudi Arabian supplies released to the market last month. ICE cocoa futures edged lower while Arabica coffee prices fell on anticipated rains in Brazil’s main-growing areas. Raw sugar futures dropped to a three-week low. Gold initially moved higher this week, climbing to a six-week high above $1,250 a troy ounce on Oct. 22, as worries about slowing economic growth in China and elsewhere boosted investor appetite for the precious metal.

Oil and Gas Africa: Ophir Runs Up The Score In Equatorial Guinea

North-Dakota-Oil-Boom By Jeffrey Cavanaugh, 11:53am AFKI Original

As a frontier market, the countries of Africa represent both tremendous opportunities and tremendous risks. On the risk side of the ledger are all the usual complications of international trade and investment compounded by the problems inherent in a developing, emergent continental market consisting of 54 countries and 1.1 billion people – it’s a lot to keep track of. Luckily, the ups and downs of the African oil and gas trade aren’t one of them if you know where to look.

Uber: Hacking South Africa’s Cities In A Taxi Cab

uber
By Dana Sanchez, 03:05pm AFKI Original

One of the most disruptive brands ever, Uber helped unite the taxi industry and social media, and it’s alive and well in Johannesburg, Cape Town, Durban and Lagos. In South Africa,where unemployment is about 25 percent, Uber is considered a messiah of sorts

10 Things You Didn’t Know About Jakaya Kikwete

Bongo5.com By Keren Mikva, 11:16am AFKI Original

Tanzanian President Jakaya Kikwete has become well known as one of the most progressive and influential leaders in African politics, and has helped to turn around the Tanzanian economy since his assumption of power in 2005. Here are ten things you may not have known about President Kikwete. As Tanzania is still classified as a poor country, it is unable to recoup a sizable amount of money from its citizens in the form of taxes. In an interview with Tanzania Invest, Kikwete discussed the situation.

10 Things You Didn’t Know About South Africa’s Springbok Rugby Team

CAJNewsAfrica.com By Keren Mikva, 12:13pm AFKI Original

Rugby is more than a sport in South Africa – it’s a way of life. Though it hasn’t reached the all-encompassing popularity of football, it still enjoys a massive following. The Springboks rugby union team is ranked number two in the world, and their green and gold jerseys are well known and respected around the world. Here are ten things you may not have known about South Africa’s Springboks rugby team.

Latest News

  • Business

    Satellite City To Sprout From $1.7B Tanzania, China Investment Deals

    Thinkstock By Makula Dunbar, 02:01pm

    Tanzania and China have signed investment deals to build a $1 billion satellite city and $500 million financial centre in the commercial capital Dar es Salaam, the latest sign of Beijing’s deepening ties with East Africa. The total of five deals, worth more than $1.7 billion, will go toward developments in infrastructure, power distribution, real estate and business cooperation, Tanzanian President Jakaya Kikwete said in a statement on Friday, one day after the deals were formally signed in Beijing.

  • Tech

    Microsoft’s Lumia 730 Smartphone On Its Way To South Africa

    Thinkstock By Makula Dunbar, 01:45pm

    Microsoft’s dual SIM card smartphone, the Lumia 730 is expected to be available in South Africa next week, the software giant announced on Thursday. A statement from Microsoft says the device would be exclusively available at Cell C stores countrywide for a cash retail price of R4499. Meanwhile, customers can also get the device for R229 per month on a SmartChat 1GB contract.

  • Health

    How Liberia’s Slum Dwellers Are Fighting Ebola Without Gov’t Help

    Thinkstock By Makula Dunbar, 12:51pm

    Two months after Liberia’s largest slum fought a government-imposed Ebola quarantine, residents are in a desperate push to conquer the deadly virus—with or without the government’s help. It is a marked change from August, when many in West Point argued Ebola was a hoax and some residents even dumped the highly contagious corpses of Ebola victims into a nearby river to avoid handing them over to the government’s body-collection teams.

  • Politics

    Car Bomb Targets Egyptian Security Force, Kills At Least 25

    Thinkstock By Makula Dunbar, 12:40pm

    A car bomb killed at least 25 Egyptian security personnel in the Sinai Peninsula on Friday, security sources said, in some of the worst violence against the state since Islamist President Mursi was overthrown last year. More than 25 people were wounded in the attack in the al-Kharouba area northwest of al-Arish, near the border with the Gaza Strip, the sources said.

  • tourism

    Getting Around Lagos, Nigeria Without Losing Your Sanity (or Money)

    bellanaija.com By Karen Elowitt, 06:00pm

    Though there are many horror stories about the traffic and public transportation systems in Lagos, most of them are severely exaggerated. It’s true that traffic in the city can be terrible, but it can also be quite light, and getting around Lagos doesn’t have to be a nightmare. Some careful planning around rush hours and thoughtful choosing of which mode of transit to take will ameliorate most of the congestion in your journey.

  • Markets

    Profit For Kenya’s Central Bank Hits $157M

    Thinkstock By Makula Dunbar, 05:59pm

    The Central Bank of Kenya ( CBK) posted a net surplus of Sh13.5 billion from Sh3.6 billion the previous financial year. However, the bank of last resort’s operating expenses are expected to increase significantly in the 2014/15 financial year. This is according to a report by the Auditor General on CBK for the financial year ending June 30, 2014. –According to audited CBK financial statements 2014, operating expenses increased to Sh12.2 billion from Sh9.4 billion.

  • Markets

    How Tax Reform Will Boost Revenue For Angola

    Thinkstock By Makula Dunbar, 05:44pm

    Angola’s Executive Project for Tax Reform (PERT) had a cumulative impact of 361.100 billion kwanza (US$3.647 billion) in non-oil tax revenues from 2011 until the end of the first half of 2014, according to official figures. This impact means that non-oil tax revenue became a significant portion of the State Budget, bolstered by the reform of the Urban Property Tax, the boost to mechanisms for verification and collection of taxes

  • Business

    Ghana Looks To Produce Raw Materials And Finished Goods

    Thinkstock By Makula Dunbar, 05:20pm

    President John Dramani Mahama has recounted Ghana’s role as the trail-blazer in Africa on account of her leading role in virtually all the political activities of the continent stressing that the Nkrumah regime witnessed the struggle for independence from colonial masters that was replicated in most African countries.

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